Aircraft Turbofan Engine Market Size & Forecast [2033]

Aircraft Turbofan Engine Market Overview

The Aircraft Turbofan Engine Market size was valued at USD 35319.9 million in 2024 and is expected to reach USD 51150.43 million by 2033, growing at a CAGR of 4.2% from 2025 to 2033.

The aircraft turbofan engine market achieved a valuation of approximately USD 3.14 billion in 2024, driven primarily by production of high‑bypass engines and delivery volumes across narrow‑body and wide‑body fleets. The narrow‑body aircraft segment comprised 58.64% of market volume in 2024, translating to USD 1.84 billion from engine sales dedicated to narrow‑body airliners. GE’s CFM LEAP line dominated the engine type mix, accounting for 57.31% share—equivalent to roughly USD 1.8 billion in 2024 sales.

This market is highly concentrated: the top three competitors—General Electric (GE), Pratt & Whitney, and Rolls‑Royce—collectively held 99.26% of market share in 2023, with GE alone holding 54.79%, Pratt & Whitney 26.04%, and Rolls‑Royce 18.31%. North America emerged as the largest regional producer and consumer, generating 46.70% of global sales in 2024 (around USD 1.46 billion). Commercial air transport application led demand, representing 62.94% of total market spend (~USD 1.98 billion). Military aviation, although smaller, accounted for over USD 1.16 billion in purchase and support programs. Production volumes surged: CFM International delivered about 1,570 LEAP engines in 2023, a 38% year-on-year increase, up from 1,136 units in 2022.

Key Findings

Driver: Expansion of narrow‑body fleet engine deliveries, with narrow‑body accounting for 58.64% of market share.

Top Country/Region: North America, contributing 46.70% of global market sales (~USD 1.46 billion in 2024).

Top Segment: CFM LEAP engine type, representing 57.31% of market value (~USD 1.8 billion).

Aircraft Turbofan Engine Market Trends

The aircraft turbofan engine market is defined by sustained growth in engine deliveries, technological innovation, and fleet renewal—totaling USD 3.14 billion in 2024. Among these, the CFM LEAP engine has emerged as the largest segment, with a 57.31% share (USD 1.8 billion). In 2023, CFM delivered 1,570 LEAP units, marking a 38% year‑on‑year rise from 1,136 units in 2022. Backlog stood at 10,675 units, indicating strong ongoing orders. Narrow‑body aircraft continue to dominate engine demand. With 58.64% market share, narrow‑body engine sales reached approximately USD 1.84 billion in 2024. Boeing 737 and Airbus A320 families remain the principal platforms, and their associated engine lines—namely LEAP and PW1100G—continue to account for the largest share of turbofan deliveries. The LEAP engine captured approximately 75% of A320neo orders by 2024, signaling strong confidence in its reliability. High-bypass turbofan architectures are the prevailing trend, favored for fuel efficiency. The UltraFan demonstrator from Rolls‑Royce, with a 140‑inch fan, has been tested at 85,000 lb thrust and achieves 25% fuel‑burn improvement compared to earlier engines.

This aligns with industry focus on Sustainable Aviation Fuel (SAF), with new engines engineered for 100% SAF compatibility. Digital health monitoring and predictive maintenance tools are becoming mainstream. Engines across fleets now generate real‑time performance and health data, enabling operators to shift from scheduled overhauls to condition‑based maintenance. This shift improves availability: average time on wing reached 30,000 hours, with some engines exceeding 50,000 hours before shop visits. Engine diversification is another key trend. Military turbofan programs, including new development such as Turkey's TF6000, are emerging with high‑temperature alloys and modular designs. TF6000 conducted over 60 test cycles by October 2024, aimed at powering drones and indigenous fighter platforms.

Aircraft Turbofan Engine Market Dynamics

DRIVER

Expansion of narrow‑body and wide‑body aircraft fleet orders.

The surge in air travel demand pushed airlines to increase narrow‑body deliveries by 55% share in 2024. GAMA data shows turboprop aircraft deliveries rose by 10.4% to 582 units, and business jet deliveries increased 7.12% to 712 units in 2022. Airline fleets also saw significant desktop expansion: Airbus delivered 611 jets in 2021 vs. 566 in 2020, and Boeing delivered 302 in 2021 vs. 157 in 2020. This fleet expansion translated to robust engine orders, especially for high‑bypass turbofans like LEAP and GTF, and boosted service demand for USD 7.6 billion of sales in Q4 2024 by Pratt & Whitney.

RESTRAINT

Supply chain disruptions and raw material shortages.

Manufacturers reported contamination issues and metal shortages that delayed outputs. Pratt & Whitney incurred a USD 2.9 billion pre‑tax charge in 2023 due to powder‑metal defects in its GTFs. Delivery backlogs grew: CFM had a backlog of 10,675 LEAP units in 2023. The pandemic also delayed parts sourcing and restricted supply chains, impacting engine availability. Price inflation in nickel and titanium segments boosted component costs by 15–20% year‑on‑year, squeezing margins and leading to delivery delays into 2023–2024.

OPPORTUNITY

Retrofit and aftermarket digital service expansion.

Fleet operators now look to retrofit existing engines with digital health analytics and performance enhancements. Considering the CFM56 fleet’s record—over one billion flight hours and roughly 32,000 engines delivered—the retrofit market alone covers tens of thousands of engines. Oil‑and‑gas engine shop visits occur every 30,000 hours, with performance restoration costing USD 0.3–0.6 million per visit. With the global fleet nearing 103,000 turbofan units by 2035, the aftermarket retrofit and services business offers significant USD‑valued opportunity across shop visits, component repair, and digital upgrades.

CHALLENGE

Balancing innovation cost with ecological regulations.

Next-generation engines like the UltraFan and RISE demand substantial R&D outlay: Trent UltraFan required full-scale test programs including the 140‑inch fan and 85,000 lb thrust demonstration. CFM RISE targets mid‑2030s entry. Such programs entail R&D spend of hundreds of millions per engine line. Meanwhile, operational engines face new noise and emissions limits. Developing greener engines that maintain cost and performance is complex. SAF compatibility demands combustion chamber redesigns, and open‑rotor acoustics complicate certification. Companies must invest heavily while meeting strict deadlines to comply with ICAO noise/emissions regulations.

Aircraft Turbofan Engine Market Segmentation

The aircraft turbofan engine market can be segmented by engine bypass type and application: By type, the two main categories are high‑bypass and low‑bypass turbofan engines. High‑bypass engines dominate with over 57% share (LEAP), offering increased fuel efficiency and reduced noise. Low‑bypass engines are primarily used in military jets, delivering high thrust‑to‑weight ratios for fighter and transport applications. By application, commercial aviation accounts for 62.94% of market value (~USD 1.98 billion), driven by narrow‑body and wide‑body fleets. Military aviation forms the rest (~USD 1.16 billion), including engines for tactical fighters, transports, and unmanned systems. Both application segments represent critical demand pillars.

By Type

High‑Bypass Turbofan: engines constitute 57–60% of sales due to platforms like the CFM LEAP and UltraFan demonstrators. Sales amounted to approximately USD 1.8 billion in 2024. These engines deliver 25% fuel‑burn advantages and up to 20% emission reductions compared to previous generations. CFM LEAP alone garnered 1,570 deliveries in 2023, with backlog standing at 10,675, highlighting volume demand. Their average time on wing exceeds 30,000 hours, reducing lifecycle costs and boosting aftermarket services.
Low‑Bypass Turbofan: engines capture around 18–20% of market share, corresponding to engine lines like Pratt & Whitney F414 and Rolls’ military turbofans. While smaller in shipment volume, low‑bypass engines offer thrust levels above 20,000 lbf, required for fighter jets and high‑performance aircraft. Turkey’s TF6000 is a new entrant, with 60 test cycles completed by October 2024. Although unit deliveries are lower (hundreds), military procurement budgets—such as Pratt’s USD 7.6 billion Q4 sales—support consistent manufacturing.

By Application

Commercial: segment leads demand with 62.94% share, representing sales of nearly USD 1.98 billion in 2024. Narrow‑body orders, powering fleets of Airbus A320 and Boeing 737 series, drove a fleet of approximately 30,000 narrow‑body engines in active service by 2024. Wide‑body platforms—Trent 1000 and GEnx engines—accounted for the balance. Engine deliveries in 2023 included over 1,570 LEAP and thousands of PW1100Gs globally.
Military: aviation comprises roughly 37.06% of turbine engine deliveries (~USD 1.16 billion). This covers engines like the F414, TF6000, and new genesis models. Turkey’s TF6000 is being tailored for advanced drones and future fighter jets, with over 60 test cycles complete as of October 2024. Pratt recorded USD 2 billion operating income and USD 28 billion sales in 2024, with military engines contributing significant install volume. The U.S. and NATO procurement programs ensure stable demand.

Aircraft Turbofan Engine Market Regional Outlook

Overall, regional performance demonstrates North America’s dominance, significant traction in Europe, Asia‑Pacific expansion, and emerging growth in Middle East & Africa.

North America

accounted for 46.70% of global engine sales in 2024 (~USD 1.46 billion). This market is powered largely by OEMs based in the U.S., including GE, Pratt & Whitney, and CFM (joint venture). Domestic deliveries of narrow‑body and wide‑body fleets peaked in mid‑2024, with CFM and PW sales contributing to USD 7.6 billion in Q4 commercial and military installations. Aftermarket services contribute strongly—shop visits typically occur after 30,000 hours of operation.

Europe

represents around 18–20% of market value (USD ~0.6 billion) in 2024, anchored by Rolls‑Royce, Safran, and MTU Aero Engines. The UltraFan demonstrator, tested with 85,000 lb thrust and 140‑inch fan, is Europe’s flagship next‑gen project. Wide‑body engine customers like Emirates and Lufthansa continue refurbishing Trent series engines, often between 25,000–30,000 hours on wing. Safran’s collaboration with Indian firms and European OEMs supports LEAP component source diversification.

Asia‑Pacific

commanded approximately 24–25%, equating to USD ~0.75 billion, with fastest regional expansion. Strong national carrier orders from China and India have driven narrow‑body fleet growth, notably A320neo and 737 MAX acquisitions. Component localization partnerships (Safran–Titan/HAL) will begin producing turbine parts from 2026. Emerging players like AECC and domestic Russian engines expand regional base.

Middle East & Africa

held roughly 10% of the market (~USD 0.31 billion). Gulf airline orders for A380, A350, and 787 fleets underpin Trent and GEnx installations. Military initiatives across Gulf Cooperation Council countries have fueled purchases of F414 and derivative engines, with fleet support programs initiating shop visits every 20,000–30,000 hours. Africa’s regional low-cost airline expansion has created retrofits and service demand, though at lower volumes.

List of Top Aircraft Turbofan Engine Companies

GE Aviation
Pratt & Whitney
Rolls-Royce
International Aero Engines
Safran Aircraft Engines
CFM International
Honeywell International
MTU Aero Engines
Engine Alliance
UEC-Aviadvigatel

GE Aviation / CFM International: Held 54.79% of market share in 2023, contributing approximately USD 1.72 billion in 2024 engine sales. In 2023, CFM International delivered 1,570 LEAP engines, up 38% from 2022.

Pratt & Whitney (RTX): Achieved 26.04% market share with engine sales around USD 0.816 billion in 2024. RTX reported USD 2 billion operating profit with total sales of USD 28 billion in 2024, including substantial aftermarket and military engine support revenues.

Investment Analysis and Opportunities

Investors and engine manufacturers face a robust pipeline of opportunities grounded in fleet renewal and aftermarket expansion. In 2024, the turbofan engine market was valued at USD 3.14 billion, fueled by ~1,570 LEAP deliveries, and 582 turboprop plus 712 business jet deliveries in 2022. Investments should focus on expanding engine line production facilities, digital service platforms, and engine retrofit capabilities. First, aftermarket digital health presents a multi–billion‑dollar opportunity. With engine fleets accumulating 30,000 hours on wing, predictive maintenance systems reduce unscheduled removals. Investors can back data platforms, analytics tools, and MRO service providers that support condition-based engine management—potentially servicing 103,000 engines globally by 2035. Second, localization partnerships between OEMs and components suppliers create avenues for strategic plays. Agreements such as Safran with Titan and HAL establish LEAP turbine part production from 2026. Similar models are replicable in ASEAN and Chinese alliances, providing entry points in parts supply chains.

Third, R&D ventures targeting next-generation propulsion promise high returns. Projects like UltraFan and RISE involve high-bypass demonstrators with 25% fuel‑burn saving and cutting CO₂/NOₓ outputs. Investors in royalty structures, credit instruments, or performance partnerships can share ROI from certification and deployment. Fourth, retrofitting existing fleets with LEAP instead of aging engines presents replacement revenue. With 32,000 CFM56 engines still deployed and reaching one billion flight hours, operator fleets require overhauls and upgrade options. Financing retrofit deals with OEM support and financing options can underpin substantial engine swap markets. Finally, the rise in military turbofan programs, such as Turkey’s TF6000 (with 60 test cycles completed by late 2024), provides opportunities in defense partnerships and export financing. Investors can back test-stage projects with development milestones to capture early-stage growth.

New Product Development

Innovation continues to redefine turbofan engine capabilities. Roll‑Royce’s UltraFan exemplar—140‑inch fan, 85,000 lb thrust, 25% fuel‑burn improvement, 100% SAF‑ready—tested by mid‑2023. GE‑Safran’s CFM RISE, targeting the mid‑2030s, introduces open‑rotor wings, advanced heat‑resistant materials, and ultra‑high pressure ratios to cut emissions and meet new environmental regulations. Pratt & Whitney’s Geared Turbofan (PW1100G) continues to command market share in A320neo, though facing reliability issues earlier; it's being enhanced with powder‑metal refinements to recover performance. Digital architecture upgrades include engine health monitoring systems capturing hundreds of telemetry data points per second, with analytics reducing maintenance events by 10–15%. Bombardier and OEMs now equip retrofit kits covering 50+ engine variants with sensors and cloud connectivity. Component developments include new composite fan blades and titanium‑aluminide low‑pressure turbine blades, reducing weight by 15% and fuel burn by 3–4%. CFM and Safran reportedly filed 20+ patents in 2024 covering additive manufacturing methods for turbofan parts—with expected 30% supply‑chain lead‑time reduction.

Military propulsion saw GTF derivatives tested in heavy‑transport engines, while TEI’s TF6000 prototype finished 60 testing cycles by October 2024, supporting UAVs rated for 5,000–10,000 lbf thrust, modular construction, and improved thermal efficiency. On the commercial side, engine OEMs launched retrofit kits for CFM56 and V2500 engines, offering 5–6% fuel‑burn reduction with new hot-section and digital upgrades. Lastly, SAF‑compliant combustor zones rolled out across UltraFan, GTF, and RISE series; engines now certified for 100% SAF use. Investment in fuel flexibility reduces compliance risk and supports airline decarbonization goals. These innovations feature measurable improvements: 25% fuel‑burn savings, 85,000 lbf thrust, 30% lighter components, and data aggregate maintenance reductions. Together, they mark a major leap in turbofan technology and position the market for continued adoption.

Five Recent Developments

Rolls‑Royce UltraFan full-power test: Demonstrator successfully hit 85,000 lb thrust with 140‑inch fan in May 2023.
Safran‑Titan/HAL partnership: Feb 2025 agreement to localize LEAP low-pressure turbine components in India, production to start 2026.
CFM LEAP deliveries rise: In 2023, 1,570 engines delivered, up 38% from 2022’s 1,136 units; backlog at 10,675 units.
Turkey TF6000 testing: By Oct 2024, engine prototype passed over 60 test cycles, preparing for eighth-generation fighter and UAV use.
Pratt & Whitney 2024 rebound: Q4 sales hit USD 7.6 billion, enabling USD 2 billion operating profit in 2024 after a USD 1.5 billion loss in 2023.

Report Coverage of Aircraft Turbofan Engine Market

This Aircraft Turbofan Engine Market report comprehensively spans years 2019–2024, with forward projections to 2029–2034. It includes engine valuation, unit shipment numbers, and market share by engine type and application. Sales data totals include USD 3.14 billion in 2024, with CFM LEAP commanding 57.31% share (~USD 1.8 billion). Narrow‑body engines made up 58.64% (USD 1.84 billion), while commercial air transport applications comprised 62.94% (USD 1.98 billion). Regional breakdowns cover North America (46.70%; USD 1.46 billion), Asia‑Pacific, Europe, and Middle East & Africa. The competitive landscape profiles the top ten companies holding 99.26% combined market share. Detailed share values: GE 54.79%, Pratt & Whitney 26.04%, Rolls‑Royce 18.31%, followed by Williams (0.03%), Honeywell (0.019%), Safran (0.01485%), MTU (0.01477%), Mitsubishi (0.013%), and AECC (0.012%). This section includes engine‑by‑engine breakdown, covering CFM LEAP, PW4000, GEnx, Trent 1000, F414, and legacy variants. Market segmentation includes engine type, aircraft type (narrow‑body, wide‑body), application (commercial, military), bypass ratio type, thrust categories (<10,000 lbf up to >40,000 lbf), and technology (conventional, hybrid, electric).

The data covers unit volumes, installed fleet numbers, flight hours, and shop‑visit intervals. For example, the CFM56 fleet surpassed one billion flight‑hours by mid‑2019; average time‑on‑wing now exceeds 30,000 hours, with shop visits at similar intervals. The regional analysis features market share, growth drivers, and regulatory impacts across North America, Europe, Asia‑Pacific, Middle East & Africa. North America leads with USD 1.46 billion value, Europe (~USD 0.6 billion) led by UltraFan and Trent programs, Asia‑Pacific (~USD 0.75 billion) underpinned by narrow‑body fleet builds, and Middle East & Africa (~USD 0.31 billion) supported by civil and military orders. Technological trends covered include high‑bypass architecture, open‑rotor RISE concepts, SAF adoption, digital health systems, and hybrid/electric future pathways. R&D initiatives like UltraFan, RISE, and TF6000 are profiled with numeric milestones. Development timelines extend to 2034, projecting market value reaching USD 6.14 billion by 2034 and USD 4.44 billion by 2029. The report also analyzes manufacturing challenges—metal contamination events (example: USD 2.9 billion charge by Pratt), supply chain disruptions, and cost inflation on raw materials.